Indian state-run Oil and Natural Gas Corporation (ONGC) began this week oil production at a major deepwater oil and gas project, which is expected to boost domestic oil and gas production and help reduce India’s dependence on energy imports. ONGC said it had launched first oil production from deepwater block KG-DWN-98/2 in the Krishna Godavari basin in the Bay of Bengal, which would raise the company’s oil and gas production by 11% and 15%, respectively. The start-up of the deepwater project was also hailed as a “transformative path for economic development” in India and the state of Andhra Pradesh, off the coast of which the field…
